Musk Warns AI Debt Markets Have "Shut Off" for Most Firms

Elon Musk warns the AI debt market is drying up, and a flaw in one of Bitcoin's oldest wallets drains users' funds. This is CoinDesk Daily. in debt to buy GPUs, the chips that power AI systems. Musk said SpaceX could borrow the money because of its strong credit and steady revenue from Starlink and rocket launches. Musk says debt markets have almost entirely shut off access to money for any company without substantial revenue outside AI data centers. Electrum, one of Bitcoin's oldest software wallets, has disclosed a flaw that let malicious servers trick users into signing payments to attackers. Because Electrum relies on outside servers, an attacker running one could swap a pending payment for a fake transaction sending coins to their own address. Electrum released a fix in version 4.8.3, but earlier versions remain vulnerable. And the UK's ambition to become a global crypto hub is running into its own high street banks. More than 10,000 complaints about banking restrictions on crypto purchases were filed over 90 days this summer, according to advocacy groups Stand With Crypto. Separate research found 40% of attempted transfers to registered crypto exchanges were blocked or delayed over the past year get more updates on coindesk.com want trusted crypto research check out the stack grayscale's blog visit grayscale.com slash the stack unlock deeper insight into digital asset vault risk the new vault risk assessment from S&P Global Ratings helps bring institutional grade transparency to on-chain investing visit spglobal.com slash ratings